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Land Rover Range Rover Sport Lease Questions
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Comments
On the purchase, the $3000 was deducted after the selling price was agreed upon and taxes were calculated.
Good luck
The numbers for an otherwise identical 48 month lease with 15,000 miles per year are .00264 and 40%. If you were to lease for 48 months with only 12,000 miles per year, this truck's residual value would be 2% higher.
Car_man
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Car_man
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Do you have the July Lease numbers yet for the RRS?
Thanks!
Kevin
Chase's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Range Rover Sport HSE with 15,000 miles per year are .00198 and 48%, respectively.
Car_man
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do you know when the 2011's are coming out. In Las Vegas trying to get a 36 months deal and not only they want full MSRP($65,450), they also want $2200 down..IT IS a joke and thats for a 2010 RRS with Lux package
how much is a good deal to negotiate off MSP for lease and do you think I should wait for the 2011??how much do you think they will lower to get rid of the 2010's
also any way around buying the RRS from different sports where prices are more compatible, Land rover says they have a new policy you must buy in the zip code where you have the dealer and not out of different zip code or out of state
are they HIGH in this Economy???
Not sure how good of a deal given 2011 are out. Also, does anyone know anything about the land rover business builder program?
Thanks
I personally wouldn't pay full MSRP for a Land Rover, but I am not intimately familiar with what the market is like for them right now. If I was in the market for one, I'd shoot for more like $1,000 over invoice and see what happens. I'm sure that dealers will be anxious to unload their remaining 2010 models once the '11s begin to arrive en masse.
I haven't heard about Land Rover's policy stating that you have to purchase from your local dealer before. This almost doesn't sound legal to me. Dealerships are independent businesses that LR shouldn't be able to force to comply with this. I have heard about manufacturers giving dealerships that sell too many vehicles to out of area customers a hard time in the past, but I've never heard about a complete ban on sales to out of area customers.
Car_man
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This policy drove me a little nuts when I found an RR with the options and interior that I wanted, and the dealer said that they'd only let it go for full MSRP because I was out of their area. So, I think you may find that flexability from dealer to dealer may vary, and it is largely a self-imposed restriction because of the consequence. I ultimately bought inside my area, and paid around $3500 below MSRP at the beginning of this year.
Do you have the September lease numbers for the RRS?
Thanks!
Guillermo
Car_man
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Car_man
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I am looking to lease a 2011 RRS.
What are the MF and RV of a 36-months lease, with 15K miles per year?
Also, how is the market condition for 2011 models? In other words, how much discount off MSRP do you think we can get on these new 2011 models? Appreciate your comments.
In the most simplistic terms, if the residual of a $80k RRS SC is 50%, then the residual is $40k. You will take the $40k, divide by 36 payments ($1,111), then add the "interest factor" into the monthly depreciation, to get your payment.
The factor is some value like .0020 times the sum of the overall vehicle price and residual. This would be $120k in this example, so the monthly add-on is $240. So your payment is $1351, before tax. Figure another $100 more for tax at a total payment of $1451. This assumes NO cap reduction, but you pay all registration, doc fees, deposit (if any) in cash.
I can understand the idea of leasing may be convenient if you don't want to hassle getting rid of it at the end of 3 years. Vehicles in this price range are not easy to find buyers for, and trade-in values can be pretty low.
However, I opted to purchase because my trade in gave me $33k, and the resulting payments are less than any lease could provide. If you look on this forum for my recent posts (RRS), you can see the deal I made.
I did not get an SC version, and so the market is a bit better in the long run. If I like the vehicle at the end of its 4 yr warranty, I may buy an extended warranty and drive it till the wheels fall off.
Good Luck.
I would be very grateful for any help I can get.
Also is there a way to extend from 12k miles per year, to possibly 15-20K?
The math as I explained before is rather simple, but the lease factor rate and residual must be known before a precise answer can be given.
Considering you want to lower the cap-cost by half of the depreciation, I would believe you would be half the payment I indicated before. So $700 with 20k down maybe?
You should strike up an email conversation with a LR "Internet" manager at any dealer that has a model you are looking for.
Since they can't cloud your thinking with emotion, they tend to be more frank and will provide better pricing details.
When you are on the lot, and you're drooling on the upholstery, they have the advantage.
Dave
case is runnning great programs on 2011 sports
750 with 0 down on 42 months
the residual drops 4% on the lux causing lease #s to skyrocket
The numbers for an otherwise identical lease of a 2011 Range Rover Sport HSE Lux .00330 and 59%.
Car_man
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The residual is not typically adjusted, as this affects the lease end value.
Once the lease is funded, the difference in the payment from the "buy rate" to the rate YOU pay is given back to the dealer in one lump sum.
As an "informed" consumer, you can certainly negotiate this money factor as well as the agreed "selling price" basis used for the lease.
This rate will get lowered during face-to-face battles, provided you are not easily swayed by the intoxication of "new car smell", and the key fob being waved in front of your face.
I always have a laptop with me, and Excel open with a pre-programmed spreadsheet to analyse the numbers being thrown at me. Every little nickel and dime add-on gets exposed when all the 5 major numbers are given.
Selling Price
Cap Reduction (if any)
Money Factor
Residual %
Lease Term
Tax comes in later, and can vary in different states as to how it's applied.
Dave
The web-site below is a place where many people report current rates, but LR is left out as you have found elsewhere. However, Jaguar has a Jan lease rate posted, and they LR/Jaguar are the same entity. However, how the cars are priced/rated are probably different.
http://www.ridewithg.com/index.php/category/lease-rates/
Look for the Jaguar Jan 2011 rates.
Dave
Keep in mind we only have 1 LR dealer in the Las Vegas and companies in CA and AZ won't compete for sales unless you agree to register your vehicle in the state you buy it in. Crapy rule for our city. Fortunately the costomer service from the sales team and mangers is amazing! For sure the best buying experience I've had. This was before they qualified me out too!
So this is what we worked out.
2011 hse luxury model
black exterior
Black ebony interior w white/ivory contrast stitching
Logic 7 sound system
All weather mats front back and trunk
Dealer tinted all windows
Interior leather protection
Paint protection
20in lux wheels (standard)
Nitro fill tires w service warranty
Lo-jack
36 month lease w chase .0024 money factor w 60% residual .0875 in Nevada taxes $7500 down. Payment $997.00 first payment acquisition fee included.
$64145 purchase price
Sticker price $704145
What I've realized is land rover doesn't really have great deals. Basically if you have a specific range rover in mind start looking ahead of time. Their production from wjat ive been told is $33000 units per year. Most dealers have to trade trucks and pay extra shipping so be prepared to pay near sticker price if you live in this area. The sales guys did give us multiple day passes for Brian head skii resort and $50 credit to use on any merchandise in the store. They give fantastic demos of the car including using the rock climbing track going up the 37 degree angle! It's scary but amazing. I would highly suggest if you live in the area to go see them they will try to get you the best deal but they gotta eat too! I worked with Nicolas he's a gem knows the trucks very well!
I think that concludes my novel. I hope this helps someone. Feel free to ask me any questions.
MSRP: $78,215
Sale Price: $76,000
36 Months, 12K per year
Money Factor: .00329
Residual 56%
Monthly: $1,319
In addition, taxes, fees, and first payment due at signing. I reside in IL so tax is around 8.5%. I'm I'm reading these payments correctly, I'm paying a little over 45K to lease a 78K car for 3 years. Doesn't sound like a good deal and based on the .0024 MF I'm seeing above.
Range Rover Sport
$799 month
$2995 total due
36 months / 10,000 miles
0 sec dep.
Climate control package, Sat/HD radio package
Is this a good deal?
RR's don't spend a lot of time on the lots despite the economy, so any deals would be marginal. With a lease in mind, being a model year behind doesn't help the residual either.
With gas prices as is and the 2012s coming out in September should I wait until July for a better deal?
Here are the Figures
8k down (from trade in)
792.00 month
12k 36months
(zero out of pocket)
Let me know your thoughts. I think its a good deal.